The Canada Pension Plan Investment Board (CPP Investments) has announced its participation in a joint venture with IRA Capital and a global institutional investor to invest in medical outpatient buildings. CPP Investments will hold a 47.5 percent stake in the joint venture.
CPP Investments has allocated $143 million of equity capital to the joint venture, which will have an expected acquisition capacity of approximately $850 million.
“The program will target modern outpatient care facilities in growing U.S. communities, where demand is supported by demographic trends and the shift of services from hospitals to outpatient settings,” said Sophie van Oosterom, managing director, head of real estate at CPP Investments. “We are pleased to establish this program with IRA Capital to invest in high-quality medical facilities across resilient markets, where effective management of the assets can enhance tenant experience and retention. This investment will help deliver lo
